Rebuilding after the floods
Australians have recently witnessed some of the most destructive and devastating forces of nature. As a result, the rebuilding of flood-affected regions across Australia is going to be an immense national challenge.
Funding the rebuild
The recent disasters in Australia have had an enormous impact on the community and the Australian economy in general. The Government is providing $6.6 billion to support recovery and rebuilding from these disasters, mostly for rebuilding public infrastructure such as roads, bridges, schools and local council utilities.
The majority of the cost will be funded from cuts within the budget. This includes deferral of some infrastructure projects which also helps manage capacity constraints. Managing capacity constraints and reprioritising Government spending will also ensure value for money when these projects are delivered. The remainder will be funded by the temporary flood and cyclone reconstruction levy which will raise $1.7 billion in a fair and equitable way. The modest one‑year temporary levy will see around 60% of taxpayers contribute less than $1 a week. If you are earning $80,000, you'll contribute $2.88 per week.
Taxpayers who have a taxable income of less than $50,000, or were affected by a flood event in 2010-11 or 2011-12, Cyclone Yasi or the Western Australia bushfires and meet certain criteria, will be exempt from paying the flood reconstruction levy.
This site provides further details including the Prime Minister's media release , question and answers, a fact sheet, and a calculator to assist affected taxpayers to obtain an indicative estimate of their levy contribution.
Further information on flood relief support and assistance from the Australian Government can be found at www.disasterassist.gov.au .